A Federal High Court sitting in Abuja on Wednesday, October 23, ordered the release of  Tigran Gambaryan, the detained Binance Holdings Limited’s executive, from Kuje Correctional Centre.

It was gathered that the presiding judge, Justice Emeka Nwite gave the order after the Economic and Financial Crimes Commission (EFCC)’s counsel, R. U. Adagba, informed the court of the decision of the Federal Government to withdraw the charge against Gambaryan.

Adagba, who held the brief of Ekele Iheanacho, SAN, premised the decision on Gambaryan’s deteriorating health and the diplomatic intervention.

Gambaryan was the 2nd defendant in the charge preferred against the cryptocurrency platform (1st defendant) by the EFCC.

The EFCC had, on April 8, arraigned Binance Holdings Ltd and Gambaryan before Justice Emeka Nwite of a Federal High Court sitting in Abuja.

They were arraigned on a 5-count charge bordering on alleged tax evasion, currency speculation and money laundering to the tune of $34,400,000 (Thirty-Four Million, Four Hundred Thousand United States Dollars).

Upon resumed hearing, EFCC’s counsel, Adagba, told Justice Nwite of the Federal Government’s decision to withdraw the charge against the detained employee of Binance because of his deteriorating health.

Adagba recalled that the case could not go on at the last adjourned date as a result of the health condition of the 2nd defendant which, she said, the government had managed effectively.

She, however, said that recently, the report they received from the NCoS, through the Office of the National Security Adviser (NSA), indicated that Gambaryan’s health had deteriorated to the extent that he hardly walked without the assistance of a wheelchair.

Adagba said besides his ill health, Gambaryan needs to undergo surgery which would take some time and may impact the pace of the trial.

He stated further that the government had reviewed the case and had taken cognizance that Gambaryan, a U. S. citizen, was a mere employer of Binance Holdings Ltd, “whose status in the matter has no impact.”

The lawyer equally told the court that the prosecution had taken into consideration some critical diplomatic and international meetings by the Federal Government, hence, the need to discontinue the charge against the 2nd defendant (Gambaryan).

“I urged the honourable court to discharge the 2nd defendant accordingly in line with Section 108(1), (2)(a) of the Administration of Criminal Justice Act (ACJA), 2015,” she prayed.

Lawyer to Binance, Olujoke Aliu, and Gambaryan’s counsel, Mark Mordi, SAN, did not oppose the application.

However, Mordi, who told the court that since one of the reasons for withdrawal of the case was that Gambaryan was just an employee of Binance, urged the court to make an order for his client’s acquittal and not a discharge.

Delivering the ruling, Justice Nwite granted Adagba’s application.

“It is hereby ordered as follows:

“That an order of this honourable court is hereby made for the immediate release of the 2nd defendant from Nigerian Correctional Service, Kuje,” the judge ruled.